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Author: PharmBoi One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 81641  
Subject: Re: Using IRA for real estate investing Date: 5/11/2004 3:04 PM
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Since my post last night, I've scoured the 'net and by 'googling' variations of the topic, I've found many very useful sites (notably http://moneycentral.msn.com) and checked out Entrustadmin, Pensco, Sterling Trust and Lincoln Trust and have a very long, information conversation with a Pensco rep and am present on hold with Sterling.

Without having the entire amount in RIRA funds, I'm pooling funds with others in a C Corp (S corp not allowed) to buy the investment property. My investment wil be 25% of the shares in the C Corp and my retirement plan will have tenant-in-common interest in the property.

If I went alone and borrowed the monies that my partners are contributing, then I would be liable for Unrelated Business Income Tax (UBIT)on the debt-financed income.

Pensco charge a set-up fee of $50 and an annual base fee of $100 + 0.35% of market value. Entrust is $50 set up and a annnual fee % depends on a/c value with a min/max of $125/1750. Sterling Trust has a set up of $25 with annual min/max of $55/450 with a per property fee of 75/150 depending on finacing. I could not find fees for Entrust.

Hope this is useful.

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